CMC’s market value shed $260 million last week, with its share price now at less than half of the IPO price.
FMR Co., Inc., a registered investment advisory firm located in Boston, followed the wider market sentiment toward spread-betting players and offloaded part of its stake in CMC Markets, according to a recent disclosure with the London Stock Exchange.
The US investment firm helped to float the spread betting business at 240p a share in February and held on to a more than 5 percent stake in CMC Markets for nearly six months before it has cut its holding to below this threshold on December 15.
Shares of the FTSE 250 firm had this month its worst days on the markets, plummeting almost 50 percent after the FCA fired a warning against the sector that it had enjoyed soaring profits in recent years, probably at the expense of its clients.
To unravel the mystery, we may need to take a closer look at the business structure of both companies but at glance Plus500 could be stronger across wider markets/asset classes than CMC, having a better exposure in terms of product diversification and the UK market overall, or at least puts in a better showing.
In addition, CMC showed that some of the problems are specific to it. Earlier in September, the spread-betting and derivatives platform said clients placed fewer trades, dragging revenues down even as operating costs rose. The firm added that there had been no further easing of client trading levels in recent weeks, and if activity remains sluggish, profits for the year are likely to fall. This is another reason to guess that loss of confidence is the result of a weak performance or business model structure and not only the FCA’s crackdown on spread betters.
FMR Co., Inc. is a privately owned investment manager. The firm primarily provides its services to investment companies and manages separate client-focused portfolios. It also manages equity, fixed income, multi-asset, and balanced mutual funds, as well as investing in public equity and fixed income markets across the globe.
FMR Co., Inc., a registered investment advisory firm located in Boston, followed the wider market sentiment toward spread-betting players and offloaded part of its stake in CMC Markets, according to a recent disclosure with the London Stock Exchange.
The US investment firm helped to float the spread betting business at 240p a share in February and held on to a more than 5 percent stake in CMC Markets for nearly six months before it has cut its holding to below this threshold on December 15.
Shares of the FTSE 250 firm had this month its worst days on the markets, plummeting almost 50 percent after the FCA fired a warning against the sector that it had enjoyed soaring profits in recent years, probably at the expense of its clients.
To unravel the mystery, we may need to take a closer look at the business structure of both companies but at glance Plus500 could be stronger across wider markets/asset classes than CMC, having a better exposure in terms of product diversification and the UK market overall, or at least puts in a better showing.
In addition, CMC showed that some of the problems are specific to it. Earlier in September, the spread-betting and derivatives platform said clients placed fewer trades, dragging revenues down even as operating costs rose. The firm added that there had been no further easing of client trading levels in recent weeks, and if activity remains sluggish, profits for the year are likely to fall. This is another reason to guess that loss of confidence is the result of a weak performance or business model structure and not only the FCA’s crackdown on spread betters.
FMR Co., Inc. is a privately owned investment manager. The firm primarily provides its services to investment companies and manages separate client-focused portfolios. It also manages equity, fixed income, multi-asset, and balanced mutual funds, as well as investing in public equity and fixed income markets across the globe.
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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